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Builders fined for collusion on incineration facility bids
By Korea HeraldPublished : June 23, 2014 - 20:42
South Korea’s antitrust watchdog said Monday it has fined six local builders a combined 10.6 billion won ($10.4 million) for conspiring in bidding for the construction of waste incineration facilities.
The six are GS Engineering and Construction, Kolon Global Corp., Daewoo Engineering and Construction, Dongbu Corp., Hyosung Ebara Engineering, and Halla Energy and Environment, according to the Fair Trade Commission.
They are accused of collusion in bidding for the construction of “clean centers” in Gimpo and Namyangju, both located in Gyeonggi Province, near Seoul. The bidding was initiated in May 2009 by a state-run land developer.
Through back-door deals, three of the builders ― GS Engineering and Construction, Dongbu, and Hyosung Ebara Engineering ― were selected to bid for the construction of waste incineration facilities in Gimpo, while the other three were chosen for Namyangju.
The companies allegedly helped each other in the process by making fake bids for the other project by intentionally submitting poor designs or high prices, the FTC said.
GS Engineering and Construction was fined 2.86 billion won, the largest amount among the companies. Kolon Global and Dongbu were ordered to pay 2.71 billion won and 2.36 billion won, respectively. (Yonhap)
The six are GS Engineering and Construction, Kolon Global Corp., Daewoo Engineering and Construction, Dongbu Corp., Hyosung Ebara Engineering, and Halla Energy and Environment, according to the Fair Trade Commission.
They are accused of collusion in bidding for the construction of “clean centers” in Gimpo and Namyangju, both located in Gyeonggi Province, near Seoul. The bidding was initiated in May 2009 by a state-run land developer.
Through back-door deals, three of the builders ― GS Engineering and Construction, Dongbu, and Hyosung Ebara Engineering ― were selected to bid for the construction of waste incineration facilities in Gimpo, while the other three were chosen for Namyangju.
The companies allegedly helped each other in the process by making fake bids for the other project by intentionally submitting poor designs or high prices, the FTC said.
GS Engineering and Construction was fined 2.86 billion won, the largest amount among the companies. Kolon Global and Dongbu were ordered to pay 2.71 billion won and 2.36 billion won, respectively. (Yonhap)
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Articles by Korea Herald
